Final answer:
An ethical activity is one that is guided by moral principles, reflected in a code of ethics, and takes into account concerns of applied ethics to ensure fairness and prevent harm without relying solely on legality or industry customs.
Step-by-step explanation:
The question addresses the concept of ethical behavior within a business context, asking which criteria indicate an activity is likely ethical. Ethical behavior in business involves actions that adhere to both legal requirements and moral principles. However, legality alone does not make an action ethical. Similarly, just because a behavior is customary in an industry does not automatically make it ethical. The most ethical actions are those that do not harm others, are consistent with moral principles and result in fair outcomes without deception or manipulation of consumers. Businesses often operate under a code of ethics which defines permissible actions, including respect for privacy and environmental protection, while professional organizations issue ethical codes that their members must abide by as well.
Moral deliberation and the application of ethical principles are essential in applied ethics, which involves analyzing the morality of specific actions within various contexts. Normative Ethical Relativism suggests that moral views held by the majority within a culture are inherently correct, although this idea is challenged by the existence of moral reforms driven by minority perspectives. In essence, an ethical action is one that aligns with fundamental ethical principles, reflects the considerations of applied ethics, and is considered morally sound beyond mere legality or customary practice.